CB again prolongs unsecured loan worth 10.5 bln rubles to AMT Bank for 6 mths
MOSCOW. April 9 (Interfax) - Russia's Central Bank has again prolonged an unsecured loan to AMT Bank (formerly BTA Bank) worth 10.5 billion rubles by a period of six months until October 2010, AMT Bank said in a press release.
Therefore, the force of additional loan agreements signed between the CB and the bank in November 2009 has been extended.
It was earlier reported that Russia's BTA, which was renamed AMT Bank in March of this year, has experienced problems with paying off its unsecured loans to CB since the regulator has on numerous occasions been forced to prolong the duration for using these funds.
At the end of November, the CB prolonged a loan worth 11.8 billion rubles to BTA Bank for a period of five months. The bank was to pay this loan to the CB at the end of April.
The press release said that by making this decision, members of the CB's board of directors bore in mind the fact that the bank has been holding to the earlier prescribed business model for future development.
BTA Bank was 76th largest Russian bank at the end of 2009 by assets according to the Interfax-100, compiled by the Interfax Center for Economic Analysis (CEA).